Thursday 19 April 2018

MIDEAST STOCKS-Saudi index boosted by oil gains; Qatar National Bank jumps

MIDEAST STOCKS-Saudi index boosted by oil gains; Qatar National Bank jumps:

"Saudi Arabia’s stock market surged on Thursday, bolstered by a pick-up in oil prices to their highest since late 2014, while a jump in heavyweight Qatar National Bank helped to lift Qatar’s index.

The Saudi index finished in positive territory for a sixth straight day, gaining 1.6 percent. Brent oil rose to nearly $75 a barrel on a drop in U.S. crude inventories and after sources told Reuters that Saudi Arabia aims to push oil prices higher.

Al Rajhi Bank rose 2.9 percent and Samba Financial Group 3.5 percent, while Saudi Arabian Mining Co (Ma’aden) advanced by 6.1 percent."



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